Australia Scraps A$100 Million Grant to HRL’s Proposed Gas Plant

July 27 (Bloomberg) -- The Australian government won’t
provide a A$100 million ($104 million) grant to HRL Ltd. for the
construction of a proposed gas plant in Victoria state because
the project didn’t meet the funding conditions.

HRL was given four extensions after reaching an agreement
with the federal government in 2008, Energy Minister Martin
Ferguson said today in a statement. HRL failed to meet the
requirements before the final June 30 deadline, he said.

Australia announced the grant in 2007 to support a 400-megawatt coal-to-gas plant, according to the statement. The
company was to receive the money as part of a program to spur
the development of technologies to reduce carbon emissions.